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Lab-Grown Diamonds a Possibility for Signet, CEO Says

The company is ‘very closely monitoring’ demand for such products.

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Selling lab-grown diamonds is a definite possibility for Signet Jewelers in the future, according to comments made by the company’s chief executive.

As Rapaport News reported, Signet CEO Gina Drosos answered a question on the topic during a call with analysts recently, saying the firm is “very closely monitoring and assessing the demand for this emerging category.”

“What our research shows is that customers prefer natural diamonds for those really important purchases, bridal purchase, special birthday, graduations those kinds of things, but there could be some growing interest in the fashion jewelry space for synthetic diamonds,” she said. “So we’ll make sure that Signet is well positioned to participate in that space if the growth and the economics of it are attractive and if customers point us in that direction.”

Signet is the parent of Sterling Jewelers, which operates Jared the Galleria of Jewelry, Kay Jewelers and Zales.

Lab-grown diamonds have been a hot topic lately, with De Beers Group announcing in May that it would launch a company called Lightbox Jewelry to begin marketing such jewelry. Lightbox lab-grown diamonds are set to become available this month, retailng from $200 for a quarter-carat stone to $800 for a one-carat stone.

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There’s been “growing speculation that Signet might be lining up to carry the collection,” according to Rapaport.

Read more at Rapaport News

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